National Bank Mortgage Rates

As of April 19th, 2021
Meridian Credit Union

National Bank Background

National Bank (TSE: NA) is the sixth largest bank in Canada and is headquartered in Montreal, Quebec. Through its branches across Canada, National Bank services 2.4 million customers. As a large financial institution, they offer a variety of financial products for their customers. A majority of their revenue is received from personal and commercial banking, but they also have wealth management and financial market services. National Bank currently employs 21,000 people with most being located in Quebec. In fact, more than 60% of their business is located in this one province. National Bank provides many unique financial products to service their large customer base. Their mortgage programs in particular are detailed below.

Stock Information:
Listed on the Toronto Stock Exchange: TSE: National Bank

National Bank Prime Rate

National Bank's Prime Rate is used as the basis for many of National Bank's lending products including variable rate mortgages, lines of credit, and HELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate.

Current National Bank Prime Rate: 2.45%

Last Changed: March 30, 2020

National Bank Fixed-Rate Mortgages

National Bank Fixed Rate Mortgages reduce the risk of future interest rate fluctuations by “locking in” a specific interest rate for the term. This can create peace of mind for homeowners, which makes it a fundamentally appealing program for home buyers. If you are arranging a new mortgage for a future or current home, your fixed interest rate can be guaranteed up to 120 days before the closing date of your home. If interest rates go up during that time, you will be guaranteed the lower rate.

Mortgage Amount:
Amortization:
Payment Frequency:
TermRateMonthly Payment
1-Year Fixed
2.69%$1,833
2-Year Fixed
2.94%$1,884
3-Year Fixed
3.45%$1,992
4-Year Fixed
2.15%$1,725
5-Year Fixed
2.20%$1,735
6-Year Fixed
5.39%$2,430
7-Year Fixed
5.39%$2,430
10-Year Fixed
5.79%$2,526

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.

National Bank Variable-Rate Mortgages

National Bank Variable Rate Mortgages provides you with fixed payments over the term; however, the interest rate will fluctuate with any changes in the prime interest rate. If their prime rate goes down, more of your payment will go towards paying off your principal; if our prime rate goes up, more of your payment will go towards interest costs. As a result, this can be a great financial tool for those expecting rates to fall in the upcoming year. A convertible mortgage allows you to convert to another term at any time. This feature provides security and flexibility, as it enables you to convert to a longer closed term should your variable rate mortgage no longer meet your needs.

Mortgage Amount:
Amortization:
Payment Frequency:
TermRateMonthly Payment
5-Year Variable
2.45%$1,784

The rates shown are for insured mortgages with a downpayment of less than 20%. You may get a different rate if you have a low credit score or a conventional mortgage. Rates may change at any time.

National Bank Mortgage Break Penalty

Variable Rate MortgageFixed Rate Mortgage
3 Months’ InterestGreater of 3 Months’ Interest or the IRD amount
Interest Rate Differential (IRD) for National Bank

While we try our best to get you the best rates, we cannot guarantee that they are always accurate. WOWA assumes no liability for the accuracy of the information presented, and will not be held responsible for any damages resulting from its use.